I am thinking of remortgaging my house in Shrewsbury, does my lawyer need to be on the Nationwide Conveyancing panel?
There is nothing to stop you using your solicitor, but Nationwide will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We had chosen conveyancers locally in Shrewsbury on the Aldermore solicitor panel. They are now charging me a separate charge for handling the Aldermore mortgage. Is this an additional conveyancing fee specified by Aldermore?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your property lawyer is entitled to charge a fee for this. The fee is not set by Aldermore but by your Shrewsbury property lawyer. Some firms on the Aldermore panel will quote ’dealing with mortgage’ fee and others do not.
We have agreed to purchase a house in Shrewsbury. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Kent Reliance be concerned?
As your lender is Kent Reliance your lawyer must check the formal requirements set out in Section 2 of UK Finance Lenders’ Handbook for Kent Reliance. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and solicitors are required to report to Kent Reliance where a lease fails to comply with these provisions. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Shrewsbury.
I recently had an offer accepted on a house in Shrewsbury. My financial adviser suggested a solicitor. I paid an on account payment of £200. A few days later, the solicitor called me embarrassingly acknowledging that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am buying a new build house in Shrewsbury with a mortgage from Leeds Building Society. The sellers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not inform my solicitor about the deal as it will adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the encouragement of my in-laws I had a survey completed on a house in Shrewsbury in advance of instructing solicitors. I have been advised that there is a flying freehold element to the property. The surveyor has said that some mortgage companies may not grant a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Shrewsbury. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold property in Shrewsbury. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a ground floor flat in Shrewsbury, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Shrewsbury with an extended lease are worth £191,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2078
With only 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
I am looking for Shrewsbury conveyancing quotes online. Can I be assured that all the Shrewsbury law firms that are listed on your directory are on the bank conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the mortgage company panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Shrewsbury firm being on the lender conveyancing panel is incorrect.